Three
of nine sectors moved higher on Tuesday…XLK, XLP and XLI were the strongest sectors…XLF
was the weakest sector.
Breadth weakened…decliners led
advancers…1.73 to 1 on the NYSE and 1.22 to
1 on the NASDAQ.
Tuesday – weakened, decliners led
Monday - mixed
Friday – strengthened, advancers
led
Thursday – weakened,
decliners led
Wednesday - mixed
SPY down .36 at 176.96…volume 83.7 million shares
VIX up .29 at 12.82…
TNX up .17 at 27.68…
TLT up .48 at 103.50...
XLF down .20 at 20.67 volume
28.5 million shares
AAPL up .96 at 520.01…volume 7.2 million shares
FB up .40 at 46.60…volume 68 million shares…
Technical
Commentary:
QQQ +
0.16%, IWM + 0.08%, DIA – 0.15%, SPY – 0.20%.
Stocks
closed lower Tuesday with the QQQ finishing with a slight gain and the DOW
retreating from its record high of Monday.
Energy stocks led the sectors in being the weakest. XLF ended the day down .19 or down 0.93%.
RAX gapped down after earnings were
reported to end the day down 5.86 or 11.88% on 17.2 million shares. Also gapping down was HOLX after
reported earnings closing down 2.38 or 10.43% on 42.8 million shares. VECO broke support to close down 2.15 or 7.03%
on 1.5 million shares after reported earnings.
On a
positive note DISH gapped up after reported earnings to break through
and close above horizontal resistance gaining 2.85
or 6.00%.
Continue
to trade with trend of the individual stock that you are trading and be
vigilant in protecting profits from the last three weeks. Chart Signals has been alerting
readers to, “Move profit
protection stops according to your rules,” since Monday.
Chart Targets:
QQQ = 83.17…
IWM = 110.96, 112.83…
SPY = 177.85, 180.99…
Remember it is big money
that creates and sustains the trend. As Granville once
wrote, “technical analysis is the art of tracking the market, following
the footsteps of the ‘smart money’ crowd.
The ‘smart money crowd’ is no mysterious ‘THEY.’ It is simply a collection of people who are
reading the market correctly, seeing through the maze, unconfused by this hall
of mirrors.”
Short-term SPY posture is
neutral.
Support Levels
ES = 1,741, 1,726
SPY = 174.44, 172.76
QQQ = 81.87, 80.76,
79.76
IWM = 107.83
Earnings this week: RAX, NTES, SINA, CSCO, NTAP, XONE, YOKU,
Q3 Earnings Reactions
Positive Reactions – SLXP,PCLN,
NVDA, GRPN, AWAY, PRU, TPX, TSO, CTSH, FSLR, TRMB, MDVN, NATI, SPR, ONNN, EXPE, CRR,
HAR, GTI, ATML, THOR, TRN, FLT, MCHP, ITT, DICSA, ANR, SWKS, FB, CMCSA, GILD,
DWA, LVLT, EA, SEE, SPW, TFX, JCI, X, XRAY, XYL, JLL, PBI, ALR, HUN, ACT, DECK,
AMZN, MSFT, FLS, AVY, ALXN, WOOF, COG, BA, CLGX, ESI, EQIX, WLL, TSCO, RRD,
PHM, RCL, ALXN, APOL, BCR, NDAQ, NSC, WHR, ILMN, NUS, GNTX, LXK, DD, VFC, CMG,
GOOG, BHI, GE, KSU, MS, SLB, STI, LVS, VZ, SNDK, NUE, BTU, AXP, KEY, STLD, URI,
USB, INTC, JNJ, SCHW, COST, AA
Negative Reactions – MNST,
QCOM, SCTY, IPGP, AIG, BRKR, HME, NEM, XLS, Z, NIHD, AVP,
WTW, ROVI, GRMN, JDSU, OSK, CNW, ITRI, CTRX, KRFT, GRMN, MYL, DLR, XCO,
WU, LNKD, IACI, MSM, INGR, HTS, VRTX, AAPL, PMCS, MWV, SOHU, AGNC, AGCO,
PCL, GT, CMI, VSH, ALSN, ROP, EW, MRK, RYN, RMD, NCR, KBR, FSL, ESRX, EMN, FIO,
SIRI, CAM, TKR, SYMC, CVA, CDNS, AKAM, XRX, CRI, ORLY, CAT, NFLX, COH,
ZION, WAT, EMC, UTX, TXN, HON, ISRG, GS, UNP, UNH, EBAY, IBM,
XLNX, SCSS, SWK, MU, FAST
Chart Signals Strategy
Guidelines
When the market is trending
up Chart Signals looks for support
bounce and resistance breakout entries.
When the market is trending
down Chart signals looks for resistance
pull back and support break entries.
When the market is sideways
in consolidation Chart
Signals will look for support
bounce, diagonal breakouts and pull backs at resistance
where price action stays between support and resistance.
Technical setups for short-term option
trades be in and out by earnings release.
Over earnings release use earnings option strategies such as straddles,
strangles, OTM calls or puts.
After earnings look for bullish setups in positive reaction stocks and bearish setups
in negative reaction stocks.
The Market Forecast Green Line is above
80.
____________________
Setups
H Breakout: ESRX, INTC, MU, NVDA,
ROST, SHLD, SNDK, WDC, WYNN, YHOO, ESI, FIVE, IBM, MFRM, P, SPY, TIF,
Diagonal Breakout: AAPL,
CELG, SIRI, GLW, GRPN,
Bull Flag: CMCSA, GOOG, MSFT,
CLF, TPX,
Potential Bullish
Divergence:
Gap Up:
Gap Down:
Bear Flag:
At Support: FB, GLD,
Moves
New Highs: ADBE, CTSH, ALK,
CRM, DDD, GME, VRSN,
Gap Up: UNG,
Gap Down: RAX,
H Breakout: NTAP, PWRD,
D Breakout: ATVI,
Breakout Test:
Bounce: BRCM, SCSS, SWKS,
MACD Divergence Bounce:
Bear Flag:
Support Break: VECO,
______________________
62 out of 100 NDX
stocks closed higher on Tuesday.
Leading NDX 100 stocks included: SHLD, REGN, CHKP,
BRCM, AVGO, WFM, MU, FFIV, WYNN, QCOM, EXPE, MCHP
Lagging NDX stocks included: TSLA, GOLD, VIP,
AMZN, EQIX, NFLX, LBTYA, FOSL, AMAT, FOXA
Leading stocks > +2% on Tuesday
included: SCSS, PWRD, UAL, P, YELP, GRPN, GME, JNPR, MFRM, DDD
Lagging stocks < -2.0% included: RAX, VECO, WLT, TSL, CLF, SPWR, BX,
MCP, QIHU, FSLR, SSYS, JCP, FAS, SINA, ATI, SCTY,
Stocks to Watch on Wednesday
Holding Above 30 DMA= 56
CTSH, VOD,
ROST, ADBE, SNDK, SBUX, STX, CERN, CMCSA, MSFT, XRAY, AAPL, HSIC, SPLS, FISV,
FOSL, INTC, INTU, LINTA, PAYX, SBAC, WDC, CHKP, DTV, GOOG, ADP, AMZN, MAT, DISCA, CA, COST, LLTC,
TXN, ADI, MCHP, MU, EXPE, NFLX, ADSK, GOLD, CSCO, ESRX, LBTYA, ISRG, ALXN,
GILD, MYL, NVDA, PCAR, PCLN, MDLZ, DLTR, MNST, SHLD, WYNN, YHOO
Moving Above 30 DMA = 6
ATVI, AVGO, BRCM, CTXS, KLAC, QCOM
Moving Below 30 DMA = 2
AMAT, VIP
Staying Below 30 DMA
CHRW, GRMN,
SIAL, WFM, VIAB, CTRX, KRFT, FOXA, AMGN, BBBY, BIIB, REGN, VRSK, LMCA, TSLA,
EXPD, FAST, CHTR, BIDU, SRCL, CELG, VRTX, FB, MXIM, EQIX, AKAM, ORLY, SIRI,
FFIV, SYMC, ALTR, XLNX, EBAY, NTAP, NUAN, GMCR
Sixteen Week
Intermediate Term Market Trend: Up
5-Day Short Term Market
Trend: Neutral
No comments:
Post a Comment